JÖNKÖPING, Sweden — June 14, 2021 — Coloreel, with its unique patented technology for digital dyeing of textile thread on-demand, is entering the next phase in the efforts to scale up the company globally. Sven Öquist, with a background from Polestar, has recently been recruited as the new vice president of Sales.
Coloreel, a Sweden-based textile innovation brand, has developed a pioneering technology that enables high-quality digital dyeing of textile thread on-demand, creating sustainable and vivid fashion details. Coloreel began efforts to scale up the global presence last year, targeting a market valued over 25 billion Swedish Krona ($3 billion).
At the beginning of 2021, it was clear that Robur Ny Teknik would invest 100 million Swedish Krona (12 million) to support Coloreel’s market expansion and future growth. As a result, recruitment has been done to strengthen the sales organization with a new vice president of sales. Öquist, who previously was responsible for driving the sales expansion at Polestar, has recently taken on the role.
Mattias Nordin, CEO Coloreel, commented: “We are now seeing how the markets are starting to reopen after a period that has been marked by the effects of the pandemic. We operate in the textile and fashion industry and notice clear signs from our customers that production is picking up to a more normal pace again, not least when leading fashion fairs plan to be carried out according to plan during the late summer. This means that we are now scaling up to reach the global market with our innovative product. We have already come a long way, but the time is now right to increase our efforts as our goal is to reach a billion SEK in turnover within five years. Sven Öquist is perfect for the role of Vice President Sales with his previous experience of driving up sales volumes and developing sales organizations both in Sweden and internationally.”
Öquist commented: “Getting the opportunity to enter such a news-thirsty market is very exciting. Coloreel’s product will fundamentally change the industry. My job now will be to build on, strengthen and develop the sales organization with the goal of scaling up the company. The product has a unique patent foundation that gives me the opportunity to do this in the right way. To be able to participate and work with such an innovation, which has an enormous ‘tech height’ and development potential, is extremely motivating for me. The fact that it also provides significant sustainability benefits makes me extra proud to take on my new role.”
Posted June 15, 2021